Duluth Holdings reports Q4 2024 sales decline
fool.com —
Duluth Holdings reported a 1.8% decline in Q4 2024 net sales, totaling $241 million, due to order fulfillment challenges at its legacy center. Retail sales fell 6.9%, while mobile sales grew 4%. Adjusted EBITDA was approximately $9 million. The company is focusing on strategic initiatives to improve logistics and inventory management. It plans to enhance its mobile experience and open two new stores in 2025. Duluth ended 2024 with no debt and $103 million in liquidity. CEO Sam Sato announced his retirement effective April 25, 2025, with founder Stephen Schlecht taking over operations. Duluth aims for net sales between $570 million and $595 million in 2025, with expected gross margin expansion.